11 January 2011 – final results

In the year to 31 October, 2010 the company saw a slight reduction in revenue to £31.3m (2009: £32.2m) reflecting lower sales in the low margin contract recruitment business and a large one-off project in the previous year.  Adjusted pre-tax profits were 21% higher at £8.0m (2009: £6.6m) with earnings per share on the same basis emerging at 1.75p (2009: 1.51p).  The total dividend for the year was raised to 0.45p (2009: 0.20p) and net debt at the year end was £0.9m (2009: net cash £3.2m) after spending £10.6m on acquisitions.  These are excellent results and with the new financial year starting well the group is well positioned to make further progress.  The shares remain ATTRACTIVE.